Another Big Haul for Riverstone in Deal With Concho

The “price looks good any way you slice it,” said the analysts at Tudor Pickering Holt.

Shares of Concho rose 3.2% to $92.02 on a day when most of its competitors’ stock slumped. But investors in Three Rivers’ private equity backers, Riverstone Holdings LLC, are no doubt celebrating as well.

Riverstone, which launched Three Rivers in March 2010 with a management team led by Michael A. Wichterich, saw a return of nearly two-and-a-half times its initial investment on the sale, according to a person familiar with the matter.